We are buying a 2 bedroom flat in Oakley with a mortgage. We wish to retain our Oakley lawyer, however the bank says she’s not on their "panel". We have to appoint one of the lender panel conveyancing practices or continue with our Oakley conveyancing practitioner and pay for one of their panel firms to act for them. This seems very unfair; are we not able to demand that the lender use our Oakley property lawyer ?
Unfortunately,no. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the bank’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your Oakley conveyancing solicitor to apply to be on the conveyancing panel.
In reviewing online forums for a high-quality lawyer in Oakley, most advise that I must use a CQS assured solicitor. What is CQS?
The Law Society's Conveyancing Quality Scheme is the recognised quality mark for legal experts in home moving process, trusted by some of the UK's biggest banks. In 2011-12 the Conveyancing Quality Scheme was officially recognised by the Building Societies Association (BSA). The scheme does not cover licenced conveyancers. Oakley is one of the numerous areas in England and Wales where there are Accredited solicitors.
The estate agent has sent us the confirmation of our purchase of a new build apartment in Oakley. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Here is a sample of a selection of leasehold new build questions that you can expect your new-build leasehold conveyancing in Oakley
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Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Please confirm the Lease plans are surveyor prepared. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal.
What does commercial conveyancing in Oakley cover?
Oakley conveyancing for business premises incorporates a wide array of services, provided by regulated solicitors, relating to business property. For instance, this area of conveyancing can cover the sale or purchase of freehold business premises or, more usually, the transfer of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial loans and the termination of tenancies.
We're FTB’s - agreed a price, but the selling agent advised that the vendor will only go ahead if we appoint their chosen solicitors as they want an ‘expedited deal’. We would rather use a family solicitor accustomed to conveyancing in Oakley
We suspect that the owner is not behind this demand. If they require ‘a quick sale', taking such a hostile approach to a motivated purchaser is not the way to achieve this. Try to communicate with the owners directly and make the point that (a)you are genuine buyers (b)you are excited to move forward, with mortgage lined up © you are chain free (d) you wish to move quickly (e)but you will continue to appoint your preferred Oakley conveyancing lawyers - not the ones that will provide the estate agent a kickback or meet his conveyancing figures set by head office.
I am in need of some leasehold conveyancing in Oakley. Before I set the wheels in motion I require certainty as to the remaining lease term.
If the lease is recorded at the land registry - and 99.9% are in Oakley - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I own a studio flat in Oakley, conveyancing was carried out September 2005. Can you work out an approximate cost of a lease extension? Corresponding flats in Oakley with over 90 years remaining are worth £265,000. The ground rent is £50 invoiced every year. The lease terminates on 21st October 2097
You have 75 years unexpired the likely cost is going to be between £8,600 and £9,800 as well as professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more detailed investigations. Do not use this information in a Notice of Claim or as an informal offer. There may be other issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before seeking the advice of a professional.